Standards & Guidance The FASAB Handbook of Accounting Standards and Other Pronouncements, as Amended (Current Handbook)—an approximate 2,500-page PDF—is the most up-to-date, authoritative source of generally accepted accounting principles (GAAP) developed for federal entities. It is updated annually to incorporate pronouncements issued by FASAB through June 30 of each year.

Standards & Guidance The FASAB Handbook of Accounting Standards and Other Pronouncements, as Amended (Current Handbook)—an approximate 2,500-page PDF—is the most up-to-date, authoritative source of generally accepted accounting principles (GAAP) developed for federal entities. It is updated annually to incorporate pronouncements issued by FASAB through June 30 of each year.

Standards & Guidance The FASAB Handbook of Accounting Standards and Other Pronouncements, as Amended (Current Handbook)—an approximate 2,500-page PDF—is the most up-to-date, authoritative source of generally accepted accounting principles (GAAP) developed for federal entities. It is updated annually to incorporate pronouncements issued by FASAB through June 30 of each year.

Standards & Guidance The FASAB Handbook of Accounting Standards and Other Pronouncements, as Amended (Current Handbook)—an approximate 2,500-page PDF—is the most up-to-date, authoritative source of generally accepted accounting principles (GAAP) developed for federal entities. It is updated annually to incorporate pronouncements issued by FASAB through June 30 of each year.

Standards & Guidance The FASAB Handbook of Accounting Standards and Other Pronouncements, as Amended (Current Handbook)—an approximate 2,500-page PDF—is the most up-to-date, authoritative source of generally accepted accounting principles (GAAP) developed for federal entities. It is updated annually to incorporate pronouncements issued by FASAB through June 30 of each year.

Standards & Guidance The FASAB Handbook of Accounting Standards and Other Pronouncements, as Amended (Current Handbook)—an approximate 2,500-page PDF—is the most up-to-date, authoritative source of generally accepted accounting principles (GAAP) developed for federal entities. It is updated annually to incorporate pronouncements issued by FASAB through June 30 of each year.

Note: Versions of the FASAB Handbook issued prior to June 30, 2011, were referred to as Pronouncements as Amended, Statements of Federal Financial Accounting Concepts and Standards (2008–2010), Original Pronouncements, Statements of Federal Financial Accounting Concepts and Standards (2007), or Volume 1, Original Pronouncements, Statements of Federal Financial …

Mission The FASAB serves the public interest by improving federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information. The Mission Supports Public Accountability Financial reports, which include financial statements prepared in conformity with generally ...

Classified Activities FASAB Contact: Monica Valentine, [email protected], 202-512-7362 Project Objective: In August 2016, the Department of Defense (DoD or the Department) identified several areas for the Federal Accounting Standards Advisory Board’s consideration where the application of general accepted accounting principles may result in the exposure of classified information.

Documents for Comment The following documents are open for comment. A document will remain on this list until the Board issues (1) a final Statement of Federal Financial Accounting Standards or other pronouncement or (2) a revised request for comment that replaces the original one. FASAB uses the following types of documents to request feedback from…

History of FASAB How FASAB Came to Be (1990) The Early Years (1991 – 1996) GAAP Designation (1999) Additional Changes Resulting from GAAP Designation and Subsequent Sunset Reviews (1999 – 2010) How FASAB Came to Be (1990) In 1990, Congress passed the Chief Financial Officer’s Act (CFO Act), requiring audited financial statements, in accordance with…

Federal Financial Reports This page contains links to financial reports of the U.S. government and other federal agencies. These links are being provided as a resource for the many visitors to our Web site and should not be viewed as an endorsement of the documents, reports, or views contained therein. If you wish to suggest…

Board Members D. Scott Showalter Mr. Showalter joined the Board in July 2009 and serves as its Chairman. He is a professor of practice at Poole College of Management, North Carolina State University and a retired partner from KPMG LLP. He served as a technical advisor and lead partner to many of KPMG’s largest and…

Project Objective: FASAB addresses the entity issue in its Statement of Federal Financial Accounting Concepts (SFFAC) 2, Entity and Display. SFFAC 2 addresses: Reasons for Defining Reporting Entities Structure of the Federal Government Identifying the Reporting Entities for General Purpose Financial Reporting Criteria for Including Components in a Reporting Entity Other Aspects Concerning the ...